TODD COUNTY STATE BANK Failed 1987

What happened

TODD COUNTY STATE BANK of LONG PRAIRIE, MN was closed on 1987-05-14. The FDIC was named receiver.

Resolution: Purchase & Assumption — acquiring bank assumed deposits + bought assets

Deposits were transferred to FIRST NB OF LONG PRAIRIE (LONG PRAIRIE, MN). Customers became depositors of the acquiring bank automatically.

Key facts

FDIC ID

1435

FDIC Certificate

16684

FDIC FIN

2687

Bank name

TODD COUNTY STATE BANK

Location

LONG PRAIRIE, MN

Failure date

1987-05-14

FDIC resolution date

1987-05-14

Charter type

State commercial bank, non-Federal Reserve member (FDIC-supervised)

Resolution type

Purchase & Assumption — acquiring bank assumed deposits + bought assets

FDIC DIF cost (est.)

$2M

Deposits at failure

$15M

Assets at failure

$15M

Acquiring bank

FIRST NB OF LONG PRAIRIE (LONG PRAIRIE, MN)